Abstract

Decision making processes of consumers and firms have emerged as a prominent field in multi-agent systems. This approach relaxes the strict assumptions in traditional economic theory. However, little attention has been paid to the validation of the simulation itself, because of the difficulty of acquiring field data which is compared with simulated markets.

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This research was supported by the Open Research Centre “Experimental Economics: A new method of teaching economics and the research on its impact on society, ” Kyoto Sangyo University, JSPS, Grant-in-Aid for Scientific Research (B), 13480115, JSPS Grant-in-Aid for Doctoral Candidate Fellows, FY2002-FY2004, and Foundation for the Fusion of Science and Technology (http://www.fost.or.jp/).